March 7, 2007
American Superconductor buys PA switch co.
By Matthew L. Brown
Westboro-based American Superconductor Corp. has agreed to acquire Pennsylvania-based Power Quality Systems (PQS) in an all-stock merger deal valued at $3.8 million.
Power Quality Systems makes switches used to regulate and stabilize power grid voltage, and help make power transmission and power distribution grids more reliable.
According to American Superconductor, the current owners of PQS won't be employed by American Superconductor, but all key PQS engineering personnel are expected to stay with the company.
PQS's 2006 financial results show revenue of $3 million and a net loss of $400,000, which is an improvement over 2005. American Superconductor plans to increase sales of PQS's product line by as much as 67 percent during 2008.
Power Quality Systems makes switches used to regulate and stabilize power grid voltage, and help make power transmission and power distribution grids more reliable.
According to American Superconductor, the current owners of PQS won't be employed by American Superconductor, but all key PQS engineering personnel are expected to stay with the company.
PQS's 2006 financial results show revenue of $3 million and a net loss of $400,000, which is an improvement over 2005. American Superconductor plans to increase sales of PQS's product line by as much as 67 percent during 2008.
WBJ Web Partners
Most Recent
Most Recent
0 Comments